U.Today is supported by its audience. When you buy through referral links, we may earn a commission.

Gavin Andresen of Bitcoin Foundation Named Bad Mistake of Satoshi Nakamoto

Sun, 01/26/2020 - 23:00
Vladislav Sopov
Most of the sensational Bitcoin (BTC) predictions are dedicated to post-halving period or at best to 2020-2025 years. It looks like Gavin Andresen went much further!
Cover image via upload.wikimedia.org

Gavin Andresen, a software developer that launched Bitcoin Foundation in 2012, has challenged the views of Bitcoin (BTC) mysterious creator Satoshi Nakamoto on future transaction volume and coin price of the flagship blockchain.

Go big or go home?

Mr. Andresen shared the words of Satoshi Nakamoto, an unidentified author of the first Bitcoin (BTC) whitepaper. Blockchain mastermind Satoshi said he could predict only two scenarios for Bitcoin (BTC) adoption. According to him, 'in 20 years there will either be very large transaction volume or no volume'.

Image by: https://twitter.com/gavinandresen/status/1221116645059506176

The father of the Bitcoin Foundation outlined that the Bitcoin (BTC) price will be the most important question instead of transaction volume. And according to him, this price may be really huge.

Mr. Andresen predicts that Bitcoin (BTC) may be so expensive in 2028-2030 that only 'gold bugs' would be able to use it as a kind of 'niche coin'.

So many 'ifs'

Shortly after this tweet, Mr. Andresen was attacked by the supporters of altcoins. The developers of Ethereum insisted that today Satoshi would be working on Ethereum 'or Ethereum may not have had a reason to exist'.

The supporters of Bitcoin Cash (BCH) mocked the poor UX of Lightning Network while the advocates of Bitcoin SV proclaimed that Satoshi's words were only about the coins with the design similar to BSV.

It needs to be mentioned that historically the number of transactions in the Bitcoin (BTC) network correlates with the price of the crypto king.

About the author

 Blockchain Analyst & Writer with scientific background. 5+ years in IT-analytics, 2+ years in blockhain. Worked in independent analysis (Crypto Briefing) as well as in start-ups (Swap.online, Monoreto, Attic Lab etc.)

Recommended articles
Top 10 Best Cloud Mining Sites in 2020
TOP 20 Best Bitcoin Trading Bots in 2020
$61 Mln Worth of BTC Shorts Liquidated on BitMEX as Bitcoin Bulls Savour Taste of Revenge
John Bollinger Says Bitcoin and Litecoin Look 'Interesting' as BTC Price Hits $7,000
TronWallet Rolls Out 3.2 Version with Ethereum (ETH) Swaps, Multiple Accounts, and Other Features